TORONTO DOMINION BANK (TD) Company Report

Toronto-Dominion Bank (TD) is facing a class-action lawsuit from former Chinese and Chinese-American employees who allege they were unfairly targeted and fired during a U.S. investigation into the bank's anti-money laundering (AML) failures.
The lawsuit claims TD disproportionately enforced its compliance program on Chinese-origin staff, particularly in branches serving the Chinese community, and misunderstood traditional Chinese financial practices as grounds for suspicion.
This legal action follows TD's 2024 guilty plea for conspiracy to commit money laundering, which resulted in $3.1 billion in penalties and restrictions on its U.S. expansion.
More than 22 employees of Chinese or Chinese-American descent were fired in New York's Chinatown branches, with plaintiffs arguing they were scapegoated for broader money laundering activities.

5 days ago

Bloomberg

The Toronto-Dominion Bank Issues US$3.2 Billion in Senior Medium-Term Notes

Debt Issuance

On October 14, 2025, The Toronto-Dominion Bank issued US$3,200,000,000 in aggregate principal amount of Senior Medium-Term Notes.
The issuance includes US$1,000,000,000 of 4.109% notes due 2028, US$450,000,000 of 4.808% notes due 2030, US$1,250,000,000 of 4.928% notes due 2035, and US$500,000,000 of Floating Rate notes due 2028.
Legal opinions from Canadian and U.S. counsel confirmed the notes constitute valid and legally binding obligations of the Bank.

Oct 14, 2025, 8:06 PM

6-K

TD Bank Group Presents Strategy and Financial Targets at 2025 Investor Day

Guidance Update

Share Buyback

New Projects/Investments

TD Bank Group presented its strategy to accelerate growth and enhance performance at its 2025 Investor Day on September 29, 2025, aiming to build a simpler, faster, and more efficient organization through investments in talent, AI, and digital capabilities.
The company set FY'26 targets including an Adjusted ROE of 13%, Adjusted EPS Growth of 6-8%, and a CET1 Ratio of 13%. Medium-term (FY'29) targets include an Adjusted ROE of 16% and Adjusted EPS Growth of 7-10%.
TD plans to launch a $6-7 billion incremental NCIB program in FY'26, contributing to an $8 billion total share buyback in FY'26, and aims for $2-2.5 billion in annualized savings from cost initiatives.
AML remediation is the bank's #1 priority, with costs expected to remain stable through FY'26.

Sep 29, 2025, 9:24 PM

6-K

Toronto-Dominion Bank Reinstates Growth Targets and Plans Shareholder Returns

Guidance Update

Share Buyback

Legal Proceedings

Toronto-Dominion Bank (TD) has reinstated its financial growth targets following a $3 billion U.S. fine related to anti-money laundering issues.
The bank aims for adjusted earnings per share growth of 7% to 10% and an adjusted return on equity of about 16% by fiscal 2029, with a target of 6% to 8% annual growth in adjusted EPS for the coming financial year.
TD plans to return approximately C$15 billion to shareholders in fiscal 2026, which includes an incremental share buyback program.
Strategic initiatives include targeted cost reductions exceeding C$1.1 billion in 2027-2028 and a focus on expanding high-fee business segments such as wholesale banking and wealth management.

Sep 29, 2025, 5:17 PM

Morningstar

TD Bank Issues New Capital Notes and Preferred Shares

Debt Issuance

Convertible Preferred Issuance

The Toronto-Dominion Bank is issuing US$750,000,000 aggregate principal amount of 6.350% Fixed Rate Reset Limited Recourse Capital Notes, Series 6 (Non-Viability Contingent Capital (NVCC)).
Concurrently, the bank is issuing 750,000 Non-Cumulative Fixed Rate Reset Class A First Preferred Shares, Series 33 (Non-Viability Contingent Capital (NVCC)).
The Notes will carry an initial fixed interest rate of 6.350% per annum until October 31, 2030, with quarterly interest payments commencing January 31, 2026.
The issue date for both securities is September 23, 2025.

Sep 23, 2025, 8:20 PM

6-K

TD Announces Pricing of Japanese Yen NVCC Subordinated Debentures

Debt Issuance

The Toronto-Dominion Bank (TD) announced the pricing of a private placement offering of JPY 14 billion of Fixed Rate Reset Subordinated Notes (Non-Viability Contingent Capital (NVCC)) on September 16, 2025.
The Notes will bear interest at a fixed rate of 2.058% per annum until September 25, 2030, and subsequently at the 5-year Tokyo Overnight Average Rate (TONA) mid-swap rate plus 0.97% until maturity on September 25, 2035.
TD retains the option to redeem the Notes on September 25, 2030, subject to prior regulatory approval.
Net proceeds from this issuance will be allocated to general corporate purposes and are anticipated to qualify as Tier 2 capital for regulatory purposes.

Sep 17, 2025, 1:24 AM

6-K

Toronto Dominion Bank Updates on U.S. Retail Strategy and Financials

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

TD's U.S. Retail business reported Q3 PCLs of $230 million, down $80 million quarter-on-quarter, and a Net Interest Margin (NIM) of 3.19%, up 15 basis points quarter-on-quarter. The company also achieved 8.9% Return on Equity (ROE) in the quarter, an increase of 60 basis points quarter-on-quarter.
The bank has made significant progress on AML remediation, with the bulk of management actions expected to be completed by end of calendar 2025, incurring $500 million in costs this year and a comparable amount next year.
TD has successfully optimized its balance sheet, reaching $48 billion of headroom against its $434 billion asset cap in Q3, providing $90 billion of capacity for future loan growth.
Expense growth for 2026 is projected to moderate to mid-single digits, which includes higher expenses from the new revenue share structure with Nordstrom.
Strategic growth areas include doubling the proprietary bank card business and building a next-generation wealth franchise in the U.S., particularly targeting the mass affluent segment.

Sep 3, 2025, 3:00 PM

Toronto Dominion Bank Reports Q3 2025 Results and Impact of Schwab Share Sale

Earnings

M&A

Restructuring

For the third quarter ended July 31, 2025, Toronto Dominion Bank reported diluted earnings per share of $1.89 and adjusted diluted earnings per share of $2.20.
Reported net income for Q3 2025 was $3,336 million, while adjusted net income reached $3,871 million.
Year-to-date (nine months ended July 31, 2025), reported net income increased to $17,258 million, largely due to a net gain of approximately $8.6 billion from the sale of Schwab shares in Q2 2025.
The bank incurred restructuring charges of $333 million in Q3 2025.
Canadian Personal and Commercial Banking achieved a strong quarter with record revenue, earnings, deposit, and loan volumes.

Aug 28, 2025, 6:50 PM

6-K

TD Bank Group announces Q3 2025 catastrophe claims

Profit Warning

Earnings

TD Bank Group expects catastrophe claims of approximately $36 million after reinsurance and before tax to be reflected in its Wealth Management & Insurance segment's third-quarter results.
The Bank will release its third-quarter financial results on Thursday, August 28, 2025.

Aug 7, 2025, 12:00 AM

6-K

TD Bank Appoints New Board Chair Amid AML Remediation

Board Change

Legal Proceedings

Management Change

TD Bank has appointed John MacIntyre as the new chair of its board of directors, effective September 1, 2025, succeeding Alan MacGibbon.
MacIntyre's appointment is a strategic move to enhance governance and operational resilience during the bank's U.S. anti-money-laundering remediation, which follows a $3 billion fine for regulatory lapses.
An experienced board member and co-founder of Birch Hill Capital Partners, MacIntyre brings expertise in financial services, governance, and risk management.
Despite regulatory challenges, TD Bank's shares have gained approximately 34% in 2025, outperforming the S&P/TSX Composite Index's 11% rise, indicating strong investor confidence.

Jul 28, 2025, 11:04 AM

Bloomberg

Filings & Transcripts

View All Documents

Recent SEC filings and earnings call transcripts for TD.

No recent filings or transcripts found for TD.